With the advancement in technology, mobile devices are capable of collecting real-time information on the activities of their users. Though user interaction with the applications executing on the at least one mobile device are becoming increasingly ubiquitous, the privacy concerns associated with such interaction often restrict a user's willingness to share data. Due to privacy concerns, users often set privacy policies to restrict data sharing with one or more applications. Currently, the users may manually set privacy policies to restrict data sharing. Needless to mention, the process of manual configuration of privacy policies are cumbersome and time consuming, and is not reflective of the changes in the user's context or situation. As a result, users are left vulnerable to privacy threats.